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Bristol, Swindon and Reading ‘leading on growth’ – Good Growth for Cities Index
Bristol, Swindon and Reading are ‘leading on growth’ according to the annual Good Growth for Cities Index from Demos-PwC.
The influential index found cities in the South West were out-performing those in other areas of the UK. It placed Bristol second – behind Plymouth – with Swindon fourth and Reading fifth. Southampton and Exeter are also in the top six.
The index ranks 51 of the UK’s largest cities (generally considered those with populations of at least 350,000 people), plus the London boroughs as a whole, based on the public’s assessment of 12 economic measures, including jobs, health, income, safety and skills, as well as work-life balance, housing, travel-to-work times, income equality, high street shops, environment and business startups.
Historically strong-performing cities of Oxford and Milton Keynes saw the most significant declines in scores, performing less well on income distribution, housing and high streets & shops.
“The index demonstrates the continuing importance of the regional growth agenda, with differences in cities’ rankings often falling along regional lines,” say the authors.
“Cities in the South West, such as Plymouth, Bristol, Swindon and Exeter, lead the Index, while the highest improving cities come from a broader range of regions, with cities in the East and Yorkshire – Lincoln, Hull, and York – ranking most improved.”
And of the 12 regional authorities, “the West of England Combined Authority has retained the top spot, performing better than some of the oldest and biggest combined authorities, such as the West Midlands and Greater Manchester Combined Authorities.”
The authors argue “this points to the need for the Government to invest not only in further devolution, but in the devolved structures we already have, if it is serious about improving regional inequality.”
Housing, jobs and education inequality is growing in all major cities
However, the report also points out that a rising tide does not lift all boats, with housing, jobs and education inequality growing in all major cities.
Analysis in the Index shows the performance on house price-to-earnings ratio saw the largest decline across UK cities from last year’s Index – with the average house now costing over eight times the average earnings, compared to just four times in the 1990s.
Out of 12 indices, Bristol’s only ‘below average’ score is for housing (-0.81) although it also rates ‘average’ for transport. Swindon has an ‘average’ score for housing, with new business start-ups proving its only ‘below average’ score. Reading – which has seen an explosion of build-to-let apartment block construction in its centre – gets an ‘average’ score for housing, but a ‘below average’ rating for income distribution, high street and shops, and transport.
“There is an increasing imbalance within and between neighbourhoods, which is being driven by disparities in access to quality education, jobs and housing,” said Rachel Taylor, government & health industries leader at PwC.
“This is felt not only across different regions, but also between people living within the same postcodes in cities.
“If we are serious about economic growth as a country we need to provide people and places with the foundations on which they can fuel that growth – access to jobs, skills and education and affordable homes.
“The public’s priorities are clear and together local and national government, businesses and the third sector need to work together through local growth plans tailored to local needs and opportunities to make this a reality.”
John-Paul Barker, regional market lead for PwC in the West of England & Wales, said: “It’s great to see that South West cities continue to perform strongly in the Index; it chimes with the conversations we have with stakeholders and reflects what we see in the vibrant communities that we work in.
“The Index is a useful tool in that it shows the relative strengths of cities across the South West, and charts them against the priorities of people who live here.
“It also points out clear areas for action, which, across the South West, are the high prices of housing relative to earnings, and the rate at which new businesses are started.
“Although these – and especially a lack of housing – are national issues, local leaders will be best-placed to find local solutions to deliver the priorities of central government.”
The report identifies public administration and defence as one of the highest-growth sectors in 2024, growing at 2.2 per cent, which might go some way to explaining the success of Plymouth – with HMNB Devonport anchoring a rich ecosystem of marine and defence companies – and Bristol – home of the MOD Abbey Wood complex.
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